![]() The EIC was expanded in 2021 to provide greater coverage for childless workers by boosting the maximum credit claimable in tax returns to $1,502 from $543 for workers with no children. ![]() More on how this impacts tax filers below. However as seems to the trend, IRS refund processing delays ensue with any expansion or adjustment to a large scale tax credit. You can see this in the updated IRS tables below, which should be reflected when e-filing your return. This is nearly triple what the credit was worth in 2020. Lower-income workers without kids can receive a credit worth up to $1,502 for the 2021 tax year (filed in 2022). So even if you don’t file a return normally, it may be worth getting one in to get this refundable credit. Both these expansions are for the 2021 tax year only. While the CTC is designed to help families and eligible dependents, the EITC has been significantly expanded for childless adults with earned income. ![]() Up to 20 million low-income Americans may be seeing larger tax refunds this year thanks to the expansion of the Child Tax Credit ( CTC) and Earned Income Credit ( EITC) under the American Rescue Plan Act ( ARPA) of 2021. Get the latest money, tax and stimulus news directly in your inbox Income phase thresholds also returned to pre-pandemic levels.
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